Monday, 20 October 2014
Last updated 2 days ago
Mar 26 2013 | 11:59am ET
Doug Whitman, a former hedge fund manager convicted of insider-trading last year, has agreed to pay $1.8 million to settle Securities and Exchange Commission charges.
Whitman and his firm traded on confidential information about Google Inc. and Polycom Inc. that he received from former Galleon Group trader Roomy Khan, who testified against him. Khan was his neighbor in California.
Whitman earned more than $900,000 on Khan's tips. After his conviction, he was ordered to pay nearly $1.2 million in forfeiture and fines; the forfeiture will be set against the SEC settlement, meaning Whitman owes less than $900,000 more.
In addition to the monetary penalties, Whitman, who was sentenced to two years in prison, agreed to be barred from the securities industry.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...